Financial markets in Brazil raise projection for Selic to 11.75% in December 2022 -Focus report

Estimates also point to inflation of 9.99% and GDP growth of 4.50% in 2021.

RIO DE JANEIRO, BRAZIL - The financial market has raised its forecasts for the Selic rate this year from 11.50% to 11.75%. This is according to the Focus report published by the Central Bank this morning (10).

The Monetary Policy Committee (Copom) is expected to raise the key interest rate by 1.5 percentage points from the current 9.25% to 10.75% per year at its next meeting in February. For 2023, the market expects a Selic rate of 8%

The new projections come amid an environment of intense inflationary pressure. Economists consulted by the monetary authority now . . .

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